3220 Commander Dr Louisville, KY 40220

Property Details for 3220 Commander Dr

Year built

2006

Property size

28,293 SF

Property type

Commercial real estate

Description

This exceptional multifamily investment opportunity presents a rare chance to acquire a stabilized, 31-unit apartment building in Louisville, KY. The property, comprised of four two-story buildings constructed between 2006 and 2013, boasts a total of 28,293 square feet of net rentable space. With a current occupancy rate of 100%, the property generates a substantial net operating income (NOI) of $243,379, representing a compelling 6.10% cap rate. The asking price is $3,999,000, or $129,000 per unit. The property features a mix of unit types, including predominantly two-bedroom, two-bathroom units, along with one two-bedroom, one-bathroom unit and a single efficiency or office space. All units include washer/dryer hookups and are individually metered for gas and electricity, with separate sub-meters for water, ensuring efficient utility management. Located in a highly desirable area just south of I-264, the property benefits from excellent proximity to shopping and commerce, contributing to its consistently high occupancy. The property is zoned R7 and offers significant potential for future rent growth. This is a fee-simple ownership opportunity. This well-maintained property, with its strong financial performance and prime location, presents a truly unique investment opportunity in the Louisville market.